This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at El beneficio neto de Gas Natural crece un 10 por ciento
The net benefit of Natural Gas is growing by 10 %
20/02/2004
on February 20, 2004
Natural gas recorded a consolidated 568,5 million euros net income during the year 2003, representing an increase of 10 per cent regard to the previous year, taking into account the quantities of Enagás associates and excluding capital gains generated by the sale of the participation of the 59% of Enagás or the financial impact resulting from this operation.
The net amount of the turnover amounted to 5,628 million euros, an increase of 3.4 per cent. Gross operating result (Ebitda) of the company grew by 13 percent and amounted to 1.201,7 million euros and operating result (Ebit) stood at 799 million, while the "cash flow" stood at 856,8 million euros5 per cent higher than the previous year in homogeneous terms.
In 2003, Natural Gas recorded extraordinary of 7.1 million euros, 365 million won in 2002 by divestments, primarily from the sale of 59 per cent of Enagás, lowering their participation to 39 per cent, which impliesIn addition, a minor contribution to the group accounts.
These results, according to the company, were favored by the good progress of the activity of gas distribution and progressive contribution to the activities in America, despite the strength of the euro.
More information: www.gasnatural.com
